Homewyse Improvements and Enhancements - January 2025
Labor Rate and Material Cost Updates
The cost estimating calculators at Homewyse.com now reflect the following changes:
- Labor Rate Change United States Bureau of Labor reports wages for home construction,remodeling and maintenance professionals have remained steady in the past 6 months, with the level of change over the prior quarter has been less than 1% for all trade labor tracked by Homewyse. The volatility of the labor market continues however and can be noted by "adjustments" made by the Bureau of Labor Statistics to prior period estimates, ranging back as far as 2023.
- Material Unit Cost Changes Overall, material prices continued to stalilize, with few categories changing by more than 1% in the prior 6 months. Again, the most notable drop in pricing is for lumber which has fallen by up to 9% for some framing lumber.